Bill Shorten: pledges total economic destruction with 50% RET.
Australia’s energy policy reads more like a Greek tragedy. An obsession with wind and solar has left Australians with rocketing power prices and an unstable grid.
Renewable energy rent seekers have profited (obscenely) from the greatest government mandated wealth transfer in history: $70,000,000,000 worth of subsidies and soft loans will be thrown at wind and large-scale solar over the life of the Federal government’s Large-Scale Renewable Energy Target.
Starting in 2002, South Australia led the charge with its very own 50% RET. Infamous for the only statewide blackout in Australian history, mass power cuts and the highest power prices in the world – perversely, SA is still held up as Australia’s renewable energy capital. High praise indeed!
With a Federal election set for May, all eyes are on what happens next in the energy domain.
The current Coalition (Liberal/National) government…
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